Risk management has become an offensive field. Corporate boards today face unparalleled levels of business complexity, new regulations and mounting shareholder demands. As a result, executive search firm, A.E. Feldman, says risk management jobs are evolving to better manage initiatives to ensure that business objectives are met, losses are minimized, business processes are improved and [...]
Deloitte’s forensic accounting and tax units have enjoyed a big boost in business. The Big Four accounting firm reports that annual revenue at its member firms rose 18.6% in fiscal 2008, spurred by growth in Asia and demand for its financial advisory services, according to Reuters. Amid the slowing economy, the firm’s business transformation services [...]
Risk continues to top the list of corporate priorities among companies in the financial sector as well as a growing number of non-financial businesses. A recent survey of leading figures in the financial services industry from global service provider, Omgeo, shows that nearly 90% of respondents are taking increased measures to protect their firms against [...]
U.S. companies need to prepare for the convergence of global accounting standards. A mid-year update of the Financial Accounting Standards Board’s agenda left no doubt that the group is actively planning for U.S. GAAP to be replaced by International Financial Reporting Standards (IFRS), reports CFO.com. Moreover, a large majority of accounting leaders from around the [...]
The credit crisis has triggered a broad and growing emphasis on risk. In fact, a recent study conducted by KPMG’s Audit Committee Institute (ACI) and the National Association of Corporate Directors shows that risk management is now the biggest concern for audit committees. Moreover, although most audit committee members at public companies say their audit [...]
Salaries are climbing along with demand for accounting talent. Despite fears of a recession and layoffs, accountant salaries have jumped to their highest levels ever. That’s according to a recent survey conducted by the Institute of Management Accountants (IMA). The IMA’s 2007 Salary Survey, which polled roughly 1,600 internal auditors, treasurers, forecasters and planners at [...]
Recent stress in the financial markets has prompted the Fed to move to improve its ability to oversee the stability of the financial system. Fed Chairman, Ben Bernanke, and SEC Chairman, Christopher Cox, recently signed a memorandum of understanding (MOU) between the two agencies that will deepen their information sharing and cooperation as well as [...]
Today, corporate boards face a challenging set of issues in responding to the need for improved oversight of risk management. A full 70% of financial institutions place such oversight responsibilities with the board, up from 57% in 2002, reports Financial Week citing a survey by Deloitte Global Risk Management. Financial Week quotes Lionel Allan, CEO [...]
Institutional investors remain strongly committed to hedge funds, despite last year’s downturn in performance, according to a recent study by Greenwich Associates and Global Custodian. Watson Wyatt’s Global Alternatives 99 research also shows that alternative assets managed on behalf of pension funds by the world’s 99 largest investment managers grew by 40% to $822 billion [...]
Fair value accounting has been blamed for exacerbating the credit crisis – mainly for its contribution to billions worth of dollar writedowns. Also known as FAS 157, the measure forces companies to use complex methods to assign a value to an asset based on what the current market would be willing to pay for it. [...]
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